Oriental Bank of Commerce: Weekly chart of this stock has a bullish macd-h along with higher high peaks in Force Index. Macd-h has turned down along with price, which is yet to reach value zone. Both EMA's are rising, indicating strong bullishness.Daily chart has turned bearish after a good bearish divergence on macd-h, but, MACD lines are having strength. At the right edge macd-h has given an uptick, price is inside sweet zone. Stop loss on this trade is kept at 167.40, at the nearest congestion zone. Target is just above the recent high and a resistance level at 210.00.
Risk per share, including commission comes to Rs. 15.00. Hence we are taking a position of 130 shares in our account.
Happy trading.
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